Martin Currie Global Portfolio
Company Notes
High conviction portfolio offers complementary exposure
Martin Currie Global Portfolio aims to achieve long-term capital growth in excess of the return of the MSCI AC World Index. The fund has a high conviction, long-term investment approach, with bottom-up stock selection driven by fundamental analysis and proprietary research. ESG is also embedded into the investment process, with the team evaluating, measuring and scoring over 50 individual criteria for every company that it researches.
Since Zehrid Osmani was appointed manager on 1 October 2018, the fund has delivered a NAV total return of +38%, outperforming the +26% return of its benchmark, the MSCI AC World Index, but underperforming the +65% return of the Global peer group. However, much of the underperformance against the peer group can be attributed to the performance of Scottish Mortgage Investment Trust (+130%), which is the largest peer group constituent. The fund has a zero discount policy and over the last five years its discount has averaged 0.4%. Over this period it has issued 6.5m shares, raising £22.7m, and has repurchased 21.8m shares at a cost of £54.9m.
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